Thailand Property Ownership & FAQs

Pattaya Condo

Thailand real estate developer Kingdom Property has summoned the renowned exclusivity, privacy and discretion of the tropical island of Mustique in creating a name for its new beachfront residences at Pattaya’s most prestigious beach, Wong-Amat.

Kingdom Property CEO Nigel Cornick said Mustique would be positioned at a level of quality, spaciousness and attention to detail above anything the Pattaya market had seen to date.

Locally based real-estate developer the Tulip Group has confirmed that its latest luxury property, Centara Grand Residence, has now received official EIA approval (Environmental Impact Assessment) and that construction is now underway.

This world-class luxury property will consist of three towers with two residential towers and a five star Centara Grand Jomtien hotel in the third tower. Located on a secluded private beachfront in Na Jomtien, the property is set to raise standards in the area and is likely to become the most luxurious branded residence on Jomtien beach.

Thailand

The condo market in Thailand is feeling the impact of ongoing protests and the Bangkok Shutdown, according to Knight Frank Chartered (Thailand) managing director Phanom Kanjanathiemthao, who says that most buyers are waiting for political tensions to ease before making a purchase. The protests in Bangkok have affected not only the capital city, but also Pattaya and Phuket, both of which have a heavy percentage of foreign buyers.

1.1 Owning Property in Thailand

This article mainly covers ownership of property by a foreign individual by himself or by a company he sets up. It does not cover ownership of properties by large companies.

The property ownership laws of Thailand are somewhat nationalistic, whereby foreign individuals can legitimately secure property only in certain ways. The main issue is real estate, but similar laws cover other items. If you are not legally established in Thailand and following procedures, then you will take risks.

Foreigners can buy some things outright. Other things must be leased or bought properly. The most common methods of properly securing property are:

For many ‘buy-to-let looks’ an attractive income investment in a time of low rates and stock market volatility.

But while buy-to-let may no longer be the hot property it once was, as an income investment for those with enough money to raise a big deposit it looks attractive, especially compared to low savings rates and stock market volatility.

Beware though, many investors who bought in the boom struggled as mortgage rates rose before the base rate was slashed to 0.5 per cent - and one day interest rates must rise again.

Buying any Real Estate in Thailand, be it a house or a condo, always requires the services of a law firm. Once you have decided which real estate you are going to purchase, always consult a lawyer before signing any documents. The lawyer will do a title search and check the contracts before signing. Also note the type of Title Deeds in Thailand. If you are buying a condo off plan, you would need legal advice as to buying in pre-construction projects. There is also the cost of transfer for your condominium and Thailand property taxes.

Asean, and Thailand in particular, has been highlighted as a key investment zone for American companies, thanks to the region's economic strength and integration, as well as the reopening of Myanmar. For Joe Lizzerd’s current and potential customers who are investors considering Thailand for purchasing real estate, this is a vote of confidence by the Americans and Asean investors.

Glamorous ladyboy cabarets in Alcazar to entertain all the family, sunrise beers with the boys, and delicious nights spent with nubile local women on Walking Street, are just a few of the nighttime pursuits Pattaya has to offer.

That said, although famous as somewhere where you can find ‘love’ as easy as a full English breakfast, there are ample opportunities to just dance, drink, and observe humanity. Live music, plenty of pubs, and nighttime shopping all broaden Pattaya’s after-dark potential beyond meeting promiscuous girls or boys. A few venues with hip modern interiors and names like Mantra or Differ are even something sophisticated.

Life often revolves solely around food in Thailand, with work and duty merely filling the time in between. Pattaya restaurants offer plenty of choice. Thai cuisine has a worldwide fashion-food appeal these days, and in Pattaya there are a huge selection of vendors and restaurants which allow you to try everything the country’s street stalls and kitchens have to offer. Pattaya’s international popularity is reflected in its vast selection of international restaurants serving food from all around the globe at prices to suit all palates.

Land office power of attorney (example)

For the registration of rights or transfer of ownership over immovable property by someone else than the owner. The land offices in Thailand only accept the official Thai script land office power of attorney. Below the translated Tor.Dor.21 land office power of attorney.